Allegro and former McDonald's execs take control of Pizza Hut Australia

Sarah Thompson Anthony Macdonald Joyce Moullakis
Sep 6 2016
AFR

Sydney private equity firm Allegro will take control of fast food chain Pizza Hut in Australia, after agreeing a deal with the company’s US-based parent Yum! Brands.
Street Talk can reveal Allegro has teamed up with local Pizza Hut management to buy the master franchise agreement for Pizza Hut in Australia. An announcement is expected on Tuesday.
Allegro is working with former McDonald’s Corporation executives Peter Rodwell, Lisa Ransom and Chris Leslie, who will take the roles of executive chairman, chief executive officer and chief operating officer, respectively.
The new management team is expected to meet Pizza Hut’s local franchisees in coming weeks to put their business plan to work.
“Our immediate focus will be strengthening the network of Pizza Hut stores across Australia through increased investment, resources and management focus,” Allegro managing partner Chester Moynihan said in a statement to Street Talk.
“Pizza Hut has been a household name in Australia since the early 1970s. It was one of the first pizza companies to home deliver in Australia and we want to revive this innovative legacy to enhance the experience for customers.
Street Talk revealed in August that Allegro was considering an entry into the local fast food restaurant sector via both Pizza Hut Australia and the up-for-sale Eagle Boys.
Pizza Hut has 10.7 per cent of the $3.7 billion Australian pizza restaurants and takeaway market, according to IBISWorld data.
The new owners are expected to focus on embracing digital changes, opening new stores and boosting local market share.
“This is an exciting step change in how Pizza Hut operates in this market which will accelerate growth and deliver Pizza Hut to more consumers across Australia,” said outgoing Pizza Hut Australia General Manager Graeme Houston.